The Standard Life International Bond has been added to the range of offshore products available on its Elevate platform.
Standard Life announced the addition, in a statement earlier today, calling the move a “direct response to demand” from advisers. As part of the move it will offer clients the ability to purchase the bond wrapper with discounted terms to access the Elevate platform.
Steve Owen, head of proposition for Elevate, said: “By teaming up with Standard Life International, Elevate can provide the investment engine inside the International Bond product.
“Taking this alongside the development programme we announced in April, this is another demonstration of our continued commitment and support to the adviser businesses we work with.”
Standard Life International said that offshore bonds can play “an important part in a portfolio”, particularly at the decumulation stage when the use of tax allowances in the bond can support tax planning for income and for estate planning.
Michael McKenna, chief executive Standard Life International, said: “We welcome the opportunity to give Elevate advisers the option of managing their client’s investments in our bond, giving them greater choice and flexibility, particularly when it comes to tax planning.”
As reported, a series of platform enhancements were introduced for the Elevate platform to reflect the results of the company’s recent financial adviser research – focuses on supporting new-style advice models and the asset consolidation and decumulation markets, Standard Life said in a statement announcing the launch.
“We are seeing a number of platforms struggling to cope with changing adviser priorities,” Standard Life’s head of adviser and wealth manager propositions, David Tiller said at the time. “Legacy fund platforms, with their transactional nature, relegate the role of the adviser to that of mere execution rather than active ongoing plan management. Picking funds and products is the outcome of advice, not the advice itself.”
As reported, Standard Life acquired Elevate in November 2016, announcing at the time that it aimed to continue its strategy to maintain Elevate as a standalone proposition in the adviser market.